Chittiest definitions
| Word backwards | tseittihc |
|---|---|
| Part of speech | adjective |
| Syllabic division | chit-ti-est |
| Plural | The plural of "chittiest" is "chittiest." |
| Total letters | 9 |
| Vogais (2) | i,e |
| Consonants (4) | c,h,t,s |
Chitties, also known as chit funds, are traditional savings schemes that have been popular in India for many years. These schemes involve a group of people who come together to pool their money for a predetermined period, usually monthly. Each member contributes a fixed amount, and the total sum is then auctioned off to one member every month. This cycle continues until all members have received the pooled amount.
Origin and History
Chitties have a long history in India and are believed to have originated in South India. They were traditionally used as a way for individuals to save and borrow money within their communities. Over time, chitties have evolved and are now being used by various groups of people for different purposes, such as saving for a big purchase or funding a special occasion.
Structure and Working
Chitties are typically organized by a trusted individual or financial institution, known as the foreman or the company. The members of the chitty often know each other personally, which helps in building trust and transparency within the group. The amount contributed by each member, the total sum, the auction process, and the duration of the chitty are all predetermined at the beginning of the scheme.
Benefits and Risks
One of the main benefits of chitties is that they provide access to funds at a low-interest rate, often lower than traditional financial institutions. Additionally, chitties promote a culture of saving and financial discipline among their members. However, there are also risks involved, such as the possibility of default by a member, which could disrupt the entire chitty structure.
Chitties are a popular savings scheme in India that offer individuals a unique way to save and borrow money within their communities. By understanding the history, structure, benefits, and risks of chitties, individuals can make informed decisions about participating in these traditional financial systems.
Chittiest Examples
- She gave me the chittiest excuse for being late.
- This is the chittiest restaurant in town.
- I've never seen a chittier car in my life.
- That was the chittiest movie I've ever watched.
- He has the chittiest taste in music.
- That is the chittiest costume I've ever seen.
- I can't believe this is the chittiest hotel in the area.
- She always finds the chittiest parking spots.
- This has got to be the chittiest weather for our picnic.
- I can't handle the chittiest customer complaints anymore.